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Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Net Deferred Tax Asset

The following temporary differences gave rise to the net deferred tax asset at December 31, 2016 and 2015.

(Dollars in thousands)		2016				2015
Deferred tax assets:
Allowance for loan and lease losses		$	2,442			$	2,097
Loan fees			82				79
Deferred compensation			906				313
Benefit plans			955				586
Unrealized loss on securities			1,504				—
Nonaccrual interest			—				554
Business combination adjustments			720				1,166
Other			177				170
			6,786				4,965
Deferred tax liabilities:
Depreciation			(1,175	)			(1,074	)
Bond accretion			(117	)			(111	)
Goodwill and intangibles			(500	)			(472	)
Unrealized gain on securities			—				(806	)
Prepaid expenses			(312	)			(240	)
Business combination adjustments			(367	)			(428	)
Other			(29	)			(13	)
			(2,500	)			(3,144	)
Deferred tax asset, net		$	4,286			$	1,821

Provision for Income Taxes

The provision for income taxes consists of the following:

(Dollars in thousands)		2016				2015				2014
Current expense		$	2,613			$	647			$	1,574
Deferred (benefit) expense			(336	)			997				(112	)
Total provision for income taxes		$	2,277			$	1,644			$	1,462

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax at the statutory rate of 34% to Mid Penn’s effective rate is as follows:

(Dollars in thousands)		2016				2015				2014
Provision at the expected statutory rate		$	3,428			$	2,779			$	2,435
Effect of tax-exempt income			(1,089	)			(1,105	)			(1,086	)
Effect of investment in life insurance			(90	)			(91	)			(68	)
Nondeductible interest			41				37				42
Nondeductible merger and acquisition expense			—				34				163
Other items			(13	)			(10	)			(24	)
Provision for income taxes		$	2,277			$	1,644			$	1,462

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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